topic Re: Merrick Bank - Punch Me Now in Credit Card Approvals

Merrick Bank - Punch Me Now

dallasareaguy — Sun, 07 Aug 2016 00:30:00 GMT

Here I am.... having closed my credit one cards, contenental finance cards, etc. etc... finally in with some PRIME cards such as Amex.... building a healthy new lifestyle... and it happened.... my son brought me the mail today and here is this letter saying I'm approved for $1400 now, $2800 after 7 months of ontime payments.... no setup fee, no annual fee, no fees... 20% interest rate..... and I took it ;-( .... I have plenty of credit and yet I took it... to sock drawer it.... I have a disease of credit and need help. I don't spend much... but love having it...

Re: Merrick Bank - Punch Me Now

Anonymous — Sun, 07 Aug 2016 00:42:38 GMT

No Annual Fees----WAY TO GO & major Congrats!!!!

Re: Merrick Bank - Punch Me Now

NICKI183 — Sun, 07 Aug 2016 00:52:03 GMT

Wow! Glad to see that even offer no AF! Congrats on your new sock drawer card. I am at $1400 with them, hope to continue to increase my limit with them. Time will tell.

@dallasareaguy wrote:
Here I am.... having closed my credit one cards, contenental finance cards, etc. etc... finally in with some PRIME cards such as Amex.... building a healthy new lifestyle... and it happened.... my son brought me the mail today and here is this letter saying I'm approved for $1400 now, $2800 after 7 months of ontime payments.... no setup fee, no annual fee, no fees... 20% interest rate..... and I took it ;-( .... I have plenty of credit and yet I took it... to sock drawer it.... I have a disease of credit and need help. I don't spend much... but love having it...

Re: Merrick Bank - Punch Me Now

Siopao — Sun, 07 Aug 2016 02:41:32 GMT

Congrats! Nice no AF!

Merrick and Credit One are going to be seeing the chopping block soon as soon as I secure a couple more cards on my wish list.

Re: Merrick Bank - Punch Me Now

Anonymous — Sun, 07 Aug 2016 05:12:12 GMT

@dallasareaguy wrote:
Here I am.... having closed my credit one cards, contenental finance cards, etc. etc... finally in with some PRIME cards such as Amex.... building a healthy new lifestyle... and it happened.... my son brought me the mail today and here is this letter saying I'm approved for $1400 now, $2800 after 7 months of ontime payments.... no setup fee, no annual fee, no fees... 20% interest rate..... and I took it ;-( .... I have plenty of credit and yet I took it... to sock drawer it.... I have a disease of credit and need help. I don't spend much... but love having it...

Congratulations to you!...Thanks for sharing.

Re: Merrick Bank - Punch Me Now

yoyo — Mon, 08 Aug 2016 11:41:23 GMT

Congrads i chopped my First Savings Bank...card was at$750 apr of 30%..they lowered it it 23% ..but i still closed it..they didnt even fight to keep me..

Re: Merrick Bank - Punch Me Now

Anonymous — Mon, 08 Aug 2016 19:59:24 GMT

Congrats! Merrick was my first card in rebuilding. They've actually been pretty good to me. Started at $600, doubled to $1200 after 6 months, then regular CLIs since. They throw me a few hundred dollars every few months (now up to $2600), so I keep the card around. Eventually when my AAoA's is better I will consider closing it, but until then, I put a few dollars through it here and there.

Re: Merrick Bank - Punch Me Now

Anonymous — Tue, 09 Aug 2016 00:53:28 GMT

Congrats on the approval!

Merrick has actually treated me well over the years. I have their standard Visa with no AF and a $2400 limit - it's my oldest active account. APR is in the 20s. This was the only rebuilder card that has given me regular CLIs; it started as a $500 Hooters MasterCard in 2006.

They have always given me CLIs (no more than 1 or 2 per year) when I've carried a revolving balance and make more than the minimum payment. Unfortunately Merrick does not allow customer generated CLIs.

Re: Merrick Bank - Punch Me Now

steelers1 — Tue, 09 Aug 2016 01:03:21 GMT

Here comes your punch!

That's Insane!!!

Find another hobby besides credit. With your growing profile and your new friends (Amex) you have no business carrying a Merrick card.

That have NOTHING to offer you. You have NO gain to attain it.

Now its just another line on your credit report that screams subprime.

Re: Merrick Bank - Punch Me Now

elim — Tue, 09 Aug 2016 01:19:17 GMT

I wonder why these lenders don't branch out and offer a solid card to better profiles. "Credit One Cash Rewards" or whatever.

Re: Merrick Bank - Punch Me Now

Vegas4Play — Tue, 09 Aug 2016 07:20:52 GMT

@steelers1 wrote:
Here comes your punch!

That's Insane!!!

Find another hobby besides credit. With your growing profile and your new friends (Amex) you have no business carrying a Merrick card.

That have NOTHING to offer you. You have NO gain to attain it.

Now its just another line on your credit report that screams subprime.

Re: Merrick Bank - Punch Me Now

Vegas4Play — Tue, 09 Aug 2016 07:23:52 GMT

@elim wrote:
I wonder why these lenders don't branch out and offer a solid card to better profiles. "Credit One Cash Rewards" or whatever.

Why should they, there is money to be made off of people who do not know or feel that they have no other options out there...for some it is true (once you have burned every lender out their, you will have no where else to go). These companies exist and offer the products they offer because there is a need for them... for someone somewhere.

Re: Merrick Bank - Punch Me Now

Anonymous — Tue, 09 Aug 2016 07:54:56 GMT

@steelers1 wrote:
Here comes your punch!

That's Insane!!!

Find another hobby besides credit. With your growing profile and your new friends (Amex) you have no business carrying a Merrick card.

That have NOTHING to offer you. You have NO gain to attain it.

Now its just another line on your credit report that screams subprime.

I don't about screaming subprime. Credit is credit; unless it's a manual review. A Visa or MC is just that. Even if it is reported to the CB as "secured" "sub..." it doesn't factor into a score. A manual review will tell a different story. Congrats to the OP on another credit line. You don't have to keep it forever. Congrats again. Lowewr UT

Re: Merrick Bank - Punch Me Now

Anonymous — Tue, 09 Aug 2016 08:53:29 GMT

Although I cringe when I hear their name
That product isn't horrible $2800 in 7 months
No fees
Apr isn't the worst...Cap-1 and Disco offer worst APRs

Based on that, with a decent SL.... it's hard to poo poo the product just based on who is offering it, many people have decent dealings with Merrick

Perhaps they really are trying to diversify their portfolio and keeping relationships or adding them on folks way up is the way to do it.
Cap-1 is a good example.... many ppl myself included don't NEED Cap-1 anymore but will keep them in the wallet out of loyalty and at least decent treatment and products....not the best but good enough to justify the continued relationship, maybe Merrick is learning to follow suit.
Like Kia trying to be Toyota or Honda 30 years later follow a proven formula.

Re: Merrick Bank - Punch Me Now

MrsCHX — Tue, 09 Aug 2016 17:28:49 GMT

Congrats! Those are pretty decent terms.

Re: Merrick Bank - Punch Me Now

CYBERSAM — Wed, 10 Aug 2016 01:11:06 GMT

@Vegas4Play wrote:
@steelers1 wrote:
Here comes your punch!

That's Insane!!!

Find another hobby besides credit. With your growing profile and your new friends (Amex) you have no business carrying a Merrick card.

That have NOTHING to offer you. You have NO gain to attain it.

Now its just another line on your credit report that screams subprime.

+1

Now that you know about credit, try to build for better credit and move forward! No point on collecting cards that have no benefit to you and sounded good a year ago!

Make habit of closing all of your useless cards now that you're getting good cards!

Re: Merrick Bank - Punch Me Now

Kirmie2010 — Wed, 10 Aug 2016 01:15:52 GMT

Hah congrats! I think we suffer from the same afflication.

No need or reason for the card but when I saw no AF and doubling my limit, I bit and got it as well

Re: Merrick Bank - Punch Me Now

Anonymous — Fri, 12 Aug 2016 01:59:23 GMT

I got a preapproved offer for my elderly mom in 2014, whose credit got dinged through an unscrupulous lawyer and caregiver.

She was preapproved for $1100, no annual fees, bumped up to $2200 in 7 months, and they gave her an automatic bump to $2600 earlier this year.

Not a bad card to keep around for incidentals and a positive tradeline.

Re: Merrick Bank - Punch Me Now

Anonymous — Fri, 12 Aug 2016 02:17:16 GMT

Congrats on your approval!